IFP Advisors Inc Increases Stock Holdings in AutoZone, Inc. (NYSE:AZO)

IFP Advisors Inc boosted its stake in AutoZone, Inc. (NYSE:AZO) by 44.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 257 shares of the company’s stock after acquiring an additional 79 shares during the period. IFP Advisors Inc’s holdings in AutoZone were worth $831,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in AZO. Capital Performance Advisors LLP bought a new stake in shares of AutoZone during the 3rd quarter valued at about $36,000. Darwin Wealth Management LLC bought a new stake in AutoZone during the 3rd quarter valued at approximately $47,000. Crews Bank & Trust purchased a new position in shares of AutoZone during the 4th quarter worth approximately $61,000. McIlrath & Eck LLC grew its holdings in shares of AutoZone by 25.0% during the 3rd quarter. McIlrath & Eck LLC now owns 20 shares of the company’s stock worth $63,000 after acquiring an additional 4 shares during the period. Finally, Ashton Thomas Securities LLC bought a new position in shares of AutoZone in the 3rd quarter worth approximately $66,000. 92.74% of the stock is owned by hedge funds and other institutional investors.

AutoZone Price Performance

Shares of NYSE:AZO opened at $3,448.29 on Friday. AutoZone, Inc. has a 1 year low of $2,728.97 and a 1 year high of $3,484.42. The company has a market cap of $57.86 billion, a P/E ratio of 23.04, a PEG ratio of 1.86 and a beta of 0.70. The stock’s fifty day moving average price is $3,332.11 and its 200-day moving average price is $3,214.44.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, December 10th. The company reported $32.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $33.69 by ($1.17). AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. The company had revenue of $4.28 billion for the quarter, compared to the consensus estimate of $4.30 billion. During the same quarter in the prior year, the company posted $32.55 EPS. AutoZone’s revenue was up 2.1% on a year-over-year basis. On average, sell-side analysts anticipate that AutoZone, Inc. will post 152.94 earnings per share for the current year.

Analysts Set New Price Targets

AZO has been the topic of several research reports. Evercore ISI lifted their price target on AutoZone from $3,400.00 to $3,450.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Truist Financial boosted their target price on shares of AutoZone from $3,501.00 to $3,753.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Guggenheim increased their price target on shares of AutoZone from $3,350.00 to $3,750.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Wells Fargo & Company boosted their price objective on shares of AutoZone from $3,450.00 to $3,750.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Finally, Mizuho upped their price objective on shares of AutoZone from $3,350.00 to $3,600.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $3,429.84.

AutoZone Profile

AutoZone, Inc retails and distributes automotive replacement parts and accessories in the United States, Mexico, and Brazil. The company provides various products for cars, sport utility vehicles, vans, and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products.